PANACEA BIOTECH Announces Quarterly Results (2QFY19); Net Profit Down 1631.6%

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PANACEA BIOTECH Announces Quarterly Results (2QFY19); Net Profit Down 1631.6%
Tue, 27 Nov

PANACEA BIOTECH has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

PANACEA BIOTECH Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,5269511,18624.7%-22.3%
Other incomeRs m183333-0.9%79.3%
TurnoverRs m1,5449841,21923.8%-21.1%
ExpensesRs m1,1571,1351,28913.6%11.4%
Gross profitRs m36923-578-2600.9%-256.7%
DepreciationRs m144137136-0.7%-5.7%
InterestRs m2652612682.5%1.0%
Profit before taxRs m-22-342-948
TaxRs m3427270.0%-22.2%
Profit after taxRs m-56-368-975
Gross profit margin%24.22.4-48.7
Effective tax rate%-154.8-7.8-2.8
Net profit margin%-3.6-37.4-80.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 22.3% on a year-on-year (YoY) basis. The expenses were up by 11.4% YoY during the same period.
  • The company's operating profit declined by 256.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.7% in 2QFY19 as against 24.2% in 2QFY18.
  • Depreciation charges declined by 5.7% and finance costs increased by 1.0% YoY, respectively.
  • Other income increased by 79.3% YoY during the quarter.
  • Net profit for the quarter declined by 1631.6% YoY. Net profit margins during the quarter declined from -3.6% in 2QFY18 to -80.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 24.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.6% QoQ during the same period.
  • The company's operating profit declined by 2600.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.7% in 2QFY19 as against 2.4% in 1QFY18.
  • Net profit for the quarter declined by 164.7% QoQ, while net profit margins declined from -37.4% in 1QFY18 to -80.0% in 2QFY19.

To see how PANACEA BIOTECH has performed over the last eight quarters, please visit here.

PANACEA BIOTECH Share Price Performance

Over the last one year, PANACEA BIOTECH share price has moved up from Rs 272.0 to Rs 158.8, registering a Loss of Rs 113.2 or around 41.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,045.1 (down 0.9%). Over the last one year it has moved down from 14,073.9 to 14,045.1, a gain of 29 points (down 0.2%).

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 158.8, the price to book value (P/BV) ratio of PANACEA BIOTECH stands at 1.9 times.

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